Interested in knowing what’s next for the gaming industry? Join gamers to discuss new parts of the industry in October at the GamesBeat Summit Next. Learn more.
In line with a global trend, Loco has launched Locomotive Legends, which it highlights as India’s first non-fungible token platform for e-sports.
Loco said he is dedicated to democratizing gaming entertainment in the country, and said his platform will allow users to own and trade esports collectibles, helping them boost their fandom and experience the excitement of stepping into esports the scouts’ shoes.
Legends will pave the way for decentralization for game creators, with Loco committing to supporting the game-fi ecosystem in the country, Loco said. NFTs use blockchain to authenticate unique digital objects, and companies around the world use them to build communities and monetize e-sports teams and their fans.
Loco, with 52 million users, brings with it the largest and most committed community of players in each of these categories. The company has raised over $ 51 million to date.
Loco Legends launches with exclusive partnerships with India’s hottest e-sports team
including 8bit, s0ul, Godlike, Revenant, Blind and XO among others. These top Indian sports teams are category dominators in popular games like BGMI, FreeFire Max and Valorant, giving fans the most believable NFT experience, Loco said.
Loco NFT esports card
Loco has also built a proprietary data system that runs Legends. This system utilizes data generated from the large number of tournaments authorized by Loco, which is the largest funder of e-sports tournaments in the country.
Loco also said it has entered into exclusive partnerships with leading esports tournament organizers, including Villager esports and Upthrust esports, to ensure that their data platform also has the best data pipeline in the class.
The first asset on Loco Legends will be the NFT esports cards. This offer combines NFTs and fantastic free e-sports games. Users can buy NFT trading cards so that they can buy and sell cards with each other and also participate in free fantasy pools. By collecting, owning and trading these limited edition digital collectibles, Loco designs a unique fan experience where users can truly connect with their heroes, connect with the real world and enhance their viewing experience.
NFTs will be limited in number and unique to each owner. Loco is the first to build such a large-scale consumer platform in India, which includes NFTs and Web3.
Founders Anirudh Pandita and Ashwin Suresh said in a statement: “We are passionate about the potential
by Web3 to empower creators and create new fan experiences in the gaming community. Players are early users of new technologies, and our society has shown great acceptance of these initiatives. We are happy to provide users with a user-friendly experience so they can take advantage of the power of Web3 without having to deal with the complexity that other products often face. We are also excited about the partners we bring with us and the experiences that these partnerships will help us deliver to users. Our team is convinced that this is a unique opportunity to unlock a new paradigm in gaming, and this product is the first step in our roadmap.
The platform is currently in beta and will be released to the public in July 2022. As part of this launch,
The 1,000 best users who register on the platform themselves will have access to free NFTs of value
about 500 INR or $ 6.39 each.
Loco’s popular game categories include BGMI, Call of Duty Mobile, Valorant, GTA 5 and more. After collaborating with giants like Krafton, Activision, Ubisoft, Riot Games, Red Bull and the NBA 2K League and Logitech – G, the platform brings entertainment experiences to the Indian gaming audience. Loco is currently available on Android, iOS and web. The company has 85 employees.
I asked via email how receptive the local Indian market is to NFTs as we have seen opposition to NFTs from hardcore players in the West.
“Some players’ opposition to NFT-based games stems from the fact that these games are not fun to play, and therefore it can often feel like a task to play to win,” the founders replied. “We believe that this criticism, which is justified in some cases, will be addressed by more games in the coming years.”
They added: “In our case, it’s not a problem because what we publish are digital collectibles for e-sports teams and players. These collectibles can then be used in fantasy pools as well as other game formats we work on. These collectibles and the games they use add a layer of fan engagement that the e-sports industry is currently lacking.This layer enhances the viewing experience and brings users closer to the streamers they love and support.The Legends platform will allow fans to own and shop esports collectibles, helping them boost their fandom and experience the thrill of stepping into the shoes of esports scouts.
They said the Indian local market is eagerly looking for NFTs. In a recent survey of the platform, 60% of users knew of Web3 and showed a strong willingness to buy NFTs to support their favorite streamers and sports teams, they said.
When it comes to technology, the company plans to make it easy for Indian users to purchase NFTs and integrate into esports metaverse with minimal friction.
The founders said: “The Legends Web3 app uses Polygon, while the rest of the infra is built by the Loco team. We will release our web product first, followed by Android and iOS apps. The first asset on Loco Legends will be NFT esports. the cards.This offer combines NFTs and amazing free e-sports games.Users can purchase NFT Trading Cards so they can buy and sell cards with each other
others and also participate in free fantasy pools. By collecting, owning and trading these limited edition digital collectibles, Loco designs a unique fan experience where users can truly connect with their heroes, connect with the real world and enhance their viewing experience.
I also asked them about the company’s inspiration.
“Our mission as a company is to democratize Indian gambling. This central thought constantly inspires us to create new products, features and experiences,” said the founders. “We believe that gambling offers new equal conditions in India. In video games, it is not a limitation where you come from. How you look is not important. Your gender or religion does not matter. Your skills, your hard work, your laughter – they matter. We
want to ensure that a young person in a small village with minimal resources can entertain the world, or be entertained, with just their phone.
The addition: “We are the platform where players can go from beginners to become superstars in the game. We are the campfire for streamers – from beginners to the best, they are all here at Loco. We are the platform that accelerates the fan experiences – fans do not have to longer to be another user in the crowd.We create tools and experiences that allow users to interact with streamers in ways they could not before.We are the water cooler for virtual playgrounds – where fans gather, exchange stories, analyze, criticize and supports their favorite creators.
GamesBeat troen when coverage of the video game industry is “where passion meets business”. What does it mean? We want to tell you how much the news means to you, not only as a game maker, but also as a game fan. Whether you read our articles, listen to our podcasts or watch our videos, GamesBeat will help you learn about and engage with the industry. Learn more about membership.